YZi Labs invested in Avalon Labs, leading to a 30% surge in AVL token price.
Avalon Labs has minted $613 million in BTC-backed USDa stablecoins and aims to provide institutional-grade Bitcoin DeFi services.
Avalon's ecosystem includes BTC-collateralised loans, a yield-bearing savings account, and a credit card, expanding Bitcoin's financial utility.
The investment from YZi Labs will support regulatory compliance efforts and potential partnerships, positioning Avalon for further growth in the Bitcoin DeFi sector.